The Fed's Fatal Flaw - Using a Wrong Measurement to Fight Inflation.

The Fed has won the Battle against Inflation. They just don't know it. 

Opinion: The Fed has won a major battle against inflation but doesn't believe it because the data have a fatal flaw - MarketWatch

By keeping on the track to raise interest rates and to reduce buying mortgage backed funds, they may be forcing the USA, and maybe the world, into a severe, prolonged and deep recession.